Hesai Group Sponsored ADR (NASDAQ:HSAI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Hesai Group Sponsored ADR (NASDAQ:HSAI) have been assigned an average recommendation of “Buy” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $29.75.

Several equities analysts have recently issued reports on HSAI shares. Wall Street Zen lowered Hesai Group from a “hold” rating to a “sell” rating in a research note on Saturday, August 22nd. Weiss Ratings upgraded Hesai Group from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, August 19th.

Institutional Investors Weigh In On Hesai Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Hesai Group by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 4,106,432 shares of the company’s stock worth $91,984,000 after purchasing an additional 28,102 shares in the last quarter. Schroder Investment Management Group raised its position in Hesai Group by 17,419.6% in the fourth quarter. Schroder Investment Management Group now owns 2,065,906 shares of the company’s stock valued at $46,276,000 after purchasing an additional 2,054,114 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Hesai Group by 2.1% during the fourth quarter. Wellington Management Group LLP now owns 1,888,544 shares of the company’s stock valued at $42,303,000 after purchasing an additional 38,312 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Hesai Group by 124.6% during the fourth quarter. Deutsche Bank AG now owns 1,624,870 shares of the company’s stock valued at $36,397,000 after purchasing an additional 901,370 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in shares of Hesai Group by 108.4% during the third quarter. National Bank of Canada FI now owns 1,482,116 shares of the company’s stock worth $41,647,000 after purchasing an additional 770,816 shares during the last quarter. Institutional investors own 48.53% of the company’s stock.

Hesai Group Stock Performance

NASDAQ HSAI opened at $17.42 on Friday. The firm’s 50 day simple moving average is $16.89 and its 200 day simple moving average is $20.46. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of 42.49, a P/E/G ratio of 0.77 and a beta of 1.37. The company has a current ratio of 5.37, a quick ratio of 4.86 and a debt-to-equity ratio of 0.03. Hesai Group has a 1 year low of $14.29 and a 1 year high of $30.85.

Hesai Group (NASDAQ:HSAI) last announced its quarterly earnings data on Friday, August 14th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Hesai Group had a net margin of 14.77% and a return on equity of 5.52%. The firm had revenue of $126.70 million for the quarter, compared to analyst estimates of $126.00 million. As a group, research analysts expect that Hesai Group will post 0.61 earnings per share for the current fiscal year.

About Hesai Group

Hesai Group is a technology company specializing in the development and production of advanced LiDAR (Light Detection and Ranging) sensors and perception software platforms for autonomous vehicles, robotics, industrial automation and mapping applications. The company’s core business centers on delivering high-performance, high-reliability LiDAR solutions designed to enable precise three-dimensional sensing and real-time environment perception. Hesai’s product lineup spans mechanical rotating LiDAR units, solid-state and MEMS-based sensors, as well as integrated software stacks for object detection, tracking and data fusion.

Founded in 2014 by a team of laser sensing and robotics researchers, Hesai built its reputation on improving range, resolution and reliability of LiDAR systems while driving down cost and size.